Akeena Solar released its 3rd quarter results today. The company saw an increase in sales over the past year, with net sales up to $10.60 million compared to $8.1 million in the third quarter of last year and $7.1 million in the second quarter of this year. Commercial installations are up tremendously, having doubled from the second quarter of this year and quadrupling compared to last year’s 3rd quarter results. Residential installations are increasing … Read the rest
Tag Archives: akns
Akeena Solar (AKNS) Misses, Nearing All Time Lows
Akeena Solar (AKNS) was hit with higher costs last quarter, leading to a miss on its earnings report. The company reported a wider loss than what analysts were expecting (.15/share) with 5.1 million in losses (.18/share) in the quarter, compared with a loss of 1.9 million in the year ago quarter. The company also mentioned that it has cut 36 jobs since the beginning of the year.
Clearly a company with zero momentum and … Read the rest
Akeena Solar (AKNS) Quality Issues With Andalay Line
According to Barron’s Tech Trader Daily blog, Pacific Crest analyst Mark Bachman reveals quality problems with Akeenas’ solar panels. Some of the problems he mentions, quoting information revealed by his contacts, involve the frame, not the performance of the modules themselves. Bachman continues: “Akeena touts the aesthetically pleasing nature [of its Andalay line] as a key contributor to charging a premium price. Poor manufacturing quality affecting the looks, coupled with reports from our contacts that